The global acrylonitrile butadiene styrene market share is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. The phenomenal growth in the global construction industry will be a prime growth driver for this market, states Fortune Business Insights™
The report states that the global market value in 2019 was at USD 25,135.0 million. The main highlights of the report include:
- Surgical analysis of the major market drivers, trends, and restraints;
- In-depth diagnosis of each market segment;
- Unmatched research into the regional developments and prospects of the market; and
- Valuable insights into the profiles and strategies of the key market players.
Industry Development:
- September 2020: Covestro AG announced its futuristic automotive headlight concept that involves the usage of only one material, the polycarbonate Makrolon, which meets the functional and aesthetical demands of vehicles. The headlight will also utilize a blend of acrylonitrile butadiene styrene along with a scratch-resistant coating to cover the outer lens.
List of Key Companies Profiled in this Market Report:
- Formosa Chemicals & Fibre Corp (Tainan City, Taiwan)
- Asahi Kasei Corp. (Tokyo, Japan)
- LG Chemicals (Seoul, South Korea)
- INEOS (London, UK)
- 3M (Minnesota, United States)
- KUMHO PETROCHEMICAL (Seoul, South Korea)
- Chi Mei Corporation (Tainan City, Taiwan)
- SABIC (Riyadh, Saudi Arabia)
- Covestro AG (Leverkusen, Germany)
- BASF (Ludwigshafen, Germany)
Regional Insights
In terms of revenue, North America is envisioned to lead the global ABS market owing to the rising demand for lightweight automobiles in the region, supported by the spreading awareness about fuel efficiency and economy of vehicles among consumers across the US and Canada. The other factor responsible for the high revenue generation in the North America market is the extensive adoption of ABS and other polymer-based materials in the healthcare industry to combat the coronavirus.
Asia Pacific, where the market size stood at USD 14,244.2 million in 2019, is expected to dominate the overall acrylonitrile butadiene styrene market share during the forecast period on account of the exponential growth of the construction industry in India and China. Increasing disposable incomes of car buyers in these two countries will also allow the regional market to register robust growth in the coming years.
Information Source: https://www.fortunebusinessinsights.com/acrylonitrile-butadiene-styrene-abs-market-104538
